W Options History — August 2023

In August 2023, W traded between $63.91 and $85.26. ATM implied volatility averaged 67.0%, placing in the 4.8% IV rank vs the trailing year. The 30-day expected move averaged 19.4%. IV traded below realized volatility by 11.5% (HV 20d: 78.5%). Max pain ranged from $55.00 to $80.00. Net GEX was positive for 16 of 23 trading days. Term structure was in contango for 14 of 23 days. Put/call ratio averaged 1.01.

Notable Days

  • 2023-08-03: Highest Volume — 122,157 contracts
  • 2023-08-03: Largest IV drop — 21.6% change
  • 2023-08-01: Highest IV Rank — 41.6%
  • 2023-08-02: Largest Expected Move — 31.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$72.98$63.91$85.26$75.75$69.55
Max Pain$73.70$55.00$80.00$55.00$65.00
ATM IV67.0%58.7%94.3%94.3%58.7%
Expected Move19.4%16.2%31.7%31.5%16.2%
HV 20d78.5%57.9%87.5%74.5%57.9%
HV 60d71.7%67.2%74.2%69.2%69.3%
IV Rank4.8%0.0%41.6%41.6%0.0%
IV Percentile5.0%0.0%50.8%50.8%0.0%
Term Structure-0.3%-5.6%1.1%-5.2%0.8%
VWIV68.7%56.7%112.7%112.3%56.7%
Skew 25d0.9%-1.2%2.6%-1.2%0.6%
Skew 10d1.5%-1.5%4.1%1.3%1.0%
Call IV 25d67.5%59.3%95.8%95.8%59.3%
Put IV 25d68.4%59.9%95.6%94.6%59.9%
Bid-Ask Spread %6.292.2317.152.235.03
Gamma HHI0.110.050.480.060.07
Net GEX3.0M-3.1M23.1M3.0M2.3M
Net DEX-267.9M-702.8M-57.7M-378.1M-204.3M
Net VEX-2.6M-2.7M-2.4M-2.6M-2.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.010.461.960.711.20
Total Volume26,583.139,377122,15718,33012,750
Total OI332,852.348272,910388,335324,967311,397

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-08-01$75.75$55.0094.3%31.5%74.5%41.6%112.3%-1.2%-5.2%3.0M-378.1M-2.6M0.712.23N/AN/A10,7097,621126,195198,772
2023-08-02$73.13$55.0093.7%31.7%71.4%40.6%112.7%0.4%-5.6%2.7M-325.7M-2.6M0.463.34N/AN/A32,29414,868131,299201,912
2023-08-03$85.26$80.0073.5%20.3%74.4%4.8%72.5%-0.5%-2.3%13.4M-702.8M-2.6M0.893.97N/AN/A64,74857,409153,431211,239
2023-08-04$82.64$80.0067.4%19.0%72.8%0.0%67.4%0.3%-1.5%23.1M-555.5M-2.6M1.048.43N/AN/A32,26133,600166,786221,549
2023-08-07$83.19$80.0067.0%19.0%71.4%0.0%67.4%0.1%-0.2%4.8M-505.2M-2.6M0.9510.62N/AN/A11,33510,789136,748207,871
2023-08-08$82.29$80.0067.8%19.3%70.4%1.3%68.6%0.0%-0.1%4.7M-491.5M-2.7M0.647.46N/AN/A14,7789,391143,187212,468
2023-08-09$75.46$80.0068.2%19.4%78.2%2.0%68.5%0.3%-0.6%2.4M-300.6M-2.6M0.5512.55N/AN/A18,97710,343145,056216,835
2023-08-10$72.61$80.0065.7%18.6%78.7%0.0%66.0%0.2%-0.7%1.8M-220.0M-2.6M0.8717.15N/AN/A12,63511,000152,567220,824
2023-08-11$75.00$80.0063.1%18.1%78.5%0.0%64.3%-0.3%-0.1%16.9M-284.4M-2.6M1.1213.33N/AN/A12,66814,176158,006225,401
2023-08-14$78.08$80.0063.3%18.1%79.2%0.4%64.2%0.4%0.5%1.7M-364.3M-2.6M1.046.81N/AN/A11,69912,172130,712213,401
2023-08-15$76.94$80.0064.7%18.6%79.5%2.5%69.1%1.0%0.2%1.9M-339.5M-2.6M0.997.70N/AN/A9,1118,998137,623211,598
2023-08-16$74.35$80.0064.4%18.5%80.6%2.0%65.0%1.4%1.1%980.8K-271.3M-2.6M1.045.23N/AN/A4,9985,217137,575214,449
2023-08-17$69.88$80.0066.3%19.0%83.4%5.0%66.8%2.5%0.7%983.2K-173.9M-2.5M0.985.68N/AN/A11,08910,922139,336213,203
2023-08-18$70.68$80.0065.1%18.6%83.4%3.2%66.1%2.6%0.9%578.4K-221.5M-2.6M1.524.06N/AN/A6,3759,708143,520216,055
2023-08-21$69.97$80.0064.5%18.3%83.2%2.2%65.2%1.7%0.6%-964.5K-126.8M-2.5M1.963.50N/AN/A4,4388,713106,420166,490
2023-08-22$65.71$80.0064.9%18.4%86.0%2.8%65.6%1.8%0.4%-2.0M-57.7M-2.4M1.252.62N/AN/A6,0047,503112,081170,278
2023-08-23$67.97$75.0063.4%17.9%86.9%0.5%64.1%1.6%0.6%-1.1M-107.0M-2.5M1.263.68N/AN/A13,88817,546114,556170,524
2023-08-24$66.08$65.0063.7%17.9%87.5%1.0%63.1%1.5%0.3%-2.1M-91.0M-2.6M0.954.99N/AN/A7,7157,346123,818181,697
2023-08-25$65.12$65.0061.2%17.0%83.7%0.0%59.4%2.2%0.6%-3.1M-66.8M-2.6M1.433.13N/AN/A5,7168,177126,763182,713
2023-08-28$63.91$65.0061.0%16.8%80.0%0.0%59.1%2.4%0.1%-2.1M-67.9M-2.5M1.174.22N/AN/A4,3275,050118,845175,871
2023-08-29$66.40$65.0059.9%16.7%81.5%0.0%58.6%1.3%0.6%-1.3M-126.2M-2.5M0.683.95N/AN/A9,2726,291120,901178,484
2023-08-30$68.54$65.0058.9%16.4%81.9%0.0%57.6%0.2%1.0%1.1M-179.5M-2.6M0.535.01N/AN/A10,9435,842126,364180,784
2023-08-31$69.55$65.0058.7%16.2%57.9%0.0%56.7%0.6%0.8%2.3M-204.3M-2.6M1.205.03N/AN/A5,8046,946128,536182,861